# PV

Returns the present value (PV) of a series of equal payments made at regular intervals, assuming a fixed interest rate per interval.

## Format

PV ( payment ; interestRate ; periods )

## Parameters

`payment`

- payment amount to be made per period. Type a negative number for money you pay and a positive number for money you receive.

`interestRate`

- interest rate per period.

`periods`

- number of periods (intervals between payments).

## Data type returned

number

## Originated in version

6.0 or earlier

## Description

Use this function to calculate PV.

## Notes

- When
`interestRate`

is 0, this function returns the result of`payment * periods`

.

## Example 1

Your cousin borrowed $2,000 from you, offering to pay you back $500 a year for five years, for a total of $2,500 at the end of five years. If inflation was 5 percent annually, with the following entry you could find out what those payments are worth with the PV function.

`PV(500;.05;5)`

returns `2164.73833531...`.